Sensex turns positive for November; govt reforms key

The Sensex, Nifty edged higher on Thursday, turning flat to slightly positive for the month, as a weaker rupee boosted IT shares such as Infosys, while banking stocks such as SBI rose on the first day of the winter session of parliament.

Infosys provisionally rose 1.4 percent, while State Bank of India gained 1.8 percent.

The Sensex provisionally gained 0.26 percent, while the Nifty ended up 0.23 percent.

Markets @ 09.00 AM (Reuters)

The BSE Sensex gains 0.2 percent, while the Nifty advances 0.11 percent. Gains also track higher Asian shares after a survey shows China's manufacturing sector expanded for the first time in 13 months in November.

Banking stocks are among the leading gainers on hopes the winter session of parliament kicking off on Thursday will pass bills to liberalise the insurance, pension and banking sectors.

The government's move to allow state-run Life Insurance Corp (LIC) to triple the maximum stake it can hold in other companies to 30 percent also helping banks, dealers say.

The government owns stakes in lenders including SBI and Axis, reducing potential overhang fears.

State Bank of India gains 1.2 percent, after falling 2.3 percent in November as on Wednesday's close. Axis Bank gains 1.6 percent.

EDITORIAL OF THE DAY

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture